Search

Amex announces the 2009 drill results

Discovery of a 5th Gold-Bearing Zone on Perron

MONTREAL, Sept. 30 /CNW Telbec/ - Amex Exploration Inc (AMX-TSX-V) is pleased to announce the 2009 drill results on the Perron project of which the highlight is the intersection at depth in hole PE2009s17 of a new mineralized structure. This new structure has 10 meters in width, from 271m to 281m, and a value of up to 11.89 g/t Au over 1.0 meter, in the central part. It is different from the other 3 adjacent Zones by its base metal content (up to 0,65 % Zn et 0,06 % Cu ) and by an intense silicification. In fact, this "new" Zone is similar to Zone 4 which is located almost 1 kilometre to the East. Amex recalls that drill hole P9951 intersection in Zone 4 was of 1.7 g/t Au, 0.60% Zn and 0.08% Cu over 21.8m (from 351 to 372.8m at depth) including 6.0 g/t Au, 0.95% Zn et 0.20% Cu over 4.8m.

This new intersection in the last hole (PE200917) of this drilling campaign suggests that the presence of a fifth gold Zone is possible on the project. A first resource estimation of 70 000 ounces of gold on Zone 3 alone (see Jacques Marchand 43-101 report dated June 2 2009) was announced by the company (see April 21 2009 press release). Jacques Trottier, president of the company is as a hole very satisfied by the results of this last drilling campaign and declares: "The addition of a potential new Zone at depth tends to confirm a diversified and complex gold system at Perron". The Perron project constitutes the principal asset of the company and is part of the Normétal property in Abitibi, wholly owned by Amex.

The main objectives of the program were to define the extensions in surface and at depth of Zone 3 and to confirm the continuity of Zones 1 and Rhyolite in unexplored areas.

Important points of this last campaign are the following:

- Drill hole PE200912 cut a gold intersection with a value of 24,3g/t
Au over 0,3m, similar to those in the Rhyolite Zone. It is located
approximately 250m to the north west of this Zone. This area has not
been previously investigated by drilling.
- Drill hole PE200916 contains 3 intersections of 5,0g/t Au over 0,8m,
5,8g/t Au over 0,5m and 5,9g/t Au over 0,6m, corresponding to Zone 1.
This area contains several gold-bearing Zones.
- Drill holes PE200907 and 08 confirm the Rhyolite Zone with values of
0,6g/t Au over 0,7m and of 1,0g/t Au over 0,9m. The latter indicates
a continuity of this Zone at depth below level 150m. This Zone is now
defined over 250m laterally and at a depth of more than 200m.
- Drill holes PE200913 and 14 confirm Zone 3 in the west central part
of the Zone with values of 1,0g/t Au over 2,2m and of 0,6g/t Au over
1,4m respectively. These values match the defined resource in this
area of the Zone.
- Drill holes PE200910 and 15 confirm Zone 3 at 75m below the surface
in the central part of the Zone with values of 2,3g/t Au over 0,6m
and of 0,7g/t Au over 5,6m respectively. These intersections are in
sections which add resources to this Zone.
- Drill holes PE200909, 12 and 16 confirm Zone 3 at 275m below the
surface in the central part of the Zone with values of 0,7g/t Au over
0,4m, of 0,7g/t Au over 0,8m and of 0,3g/t Au over 1,0m respectively.
These intersections add resources to the Zone.
- Drill hole PE200917 confirms Zones 1, 2 and 3 with values of 3,60g/t
Au over 0,5m, 1,23g/t Au over 1,0m, and 4,22g/t Au over 1,0m.
Furthermore, this hole intersected, from 271 to 281 meters, a
silicified and mineralized Zone with a value of 11,89g/t Au over
1,0m. This intersection can possibly indicate the presence of a fifth
gold-bearing Zone.

It is worth noting the fact that each Zone contains historically exceptionally high values of more than 30g/t Au which is normal for this type of gold-bearing deposit in the Abitibi.

Although this phase of drilling did reach the objectives as a whole, the interpretation regarding the continuity and extension of each of the Zones and particularly Zone 3, will require more work and understanding. In this regard, the company is systematically compiling all the drill results in order to establish, if required, a coherent structural model which would be used as an orientation tool in the continuation of drilling. Following this compilation work, Amex intends to pursue with a new aggressive drilling campaign to test the extension of this new Zone together with the other Zones on the property. This program will start as soon as possible.

Jacques Trottier is acting as Qualified Persons in compliance with National Instrument 43-101 with respect to this release and has reviewed the contents for accuracy.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE AMEX EXPLORATION INC.

For further information: For further information: Jacques Trottier, (514) 866-6286